The Fund for Protection of Investors’ Rights in Foreign States sent an notice of arbitration against Lithuania for the illegal expropriation of the Bank “Snoras”, in accordance with the investment agreement between the Russian Federation and the Republic of Lithuania.
Latvia has made an application for annulment of an arbitral award in the case of UAB “E energija” (Lithuania) v. Republic of Latvia.
Latvia must compensate E-energija EUR 3.7 million for investment abuse in the district heating business.
France’s Veolia, which owns district heat supply companies in Lithuania, filed a suit worth a preliminary 100 million euros against Lithuania.
On February 25th, Lithuania and Qatar entered the second stage of negotiations on Bilateral Investment Promotion and Protection Agreement. The two-day negotiations take place in Vilnius, reports LETA/ELTA.
Armenia has blocked its chances of signing a free trade deal with the European Union by choosing to join the Russia-led customs union, EU president Lithuania said Tuesday.